DOW 20,000 – Almost There

We’ve heard wild tales of the future Dow Jones Industrial Average (DOW). In fact, one set of analysts working for Calpers (the largest California Pension Fund – for teachers) had based their ability to keep their pension fully funded on the DOW being at 28,000 by 2009 and by 2099 at 28,000,000 pts (yes, 28 million) which is just tad bit exuberant by any stretch of the imagination. That of course, was just prior to the 2008 Financial Crisis (Cite: Wall Street Journal, article; «Dow 28,000,000: The Unbelievable Expectations of California’s Pension System,» by David Crane, 5-19-2010).